The value of SUI has been ascending steadily since early 2025, captivating attention on daily trading charts. This positive trajectory is bringing the altcoin tantalizingly close to reaching a new all-time high (ATH), buoyed by traders infusing fresh capital, indicative of growing confidence in the asset.
Over a span of just nine days, Open Interest for SUI has surged, doubling from $679 million to an impressive $1.26 billion. This rapid increase underscores the enthusiasm among traders, many of whom anticipate the asset will achieve a new ATH soon. The robust capital inflows suggest compelling support, fueled by the expectation of significant returns.
This heightened interest is poised to significantly propel SUI’s price upward. The traders' confidence resonates with a broader belief in the asset's potential, establishing a robust foundation for sustained bullish momentum as SUI advances toward its ATH.
Technical indicators reinforce the optimistic market sentiment surrounding SUI. The Relative Strength Index (RSI) remains in the bullish zone, consistently above the neutral mark of 50.0. This indicates that buying momentum continues to surpass selling pressure.
As the RSI maintains its position above the neutral threshold, SUI stands well-poised to harness its escalating momentum, drawing more traders and investors into the fold.
With its price currently less than 6% away from breaking the previous ATH of $5.36, SUI has shown resilience by rebounding off the support level at $4.79. This development suggests a potential continuation of the upward trend, provided bullish conditions persist.
Should the current favorable conditions endure, SUI's price could surpass its ATH, charting new heights and rewarding investors. However, it is crucial to note that broader market conditions will significantly influence the sustainability of this rally.
Conversely, a change in market sentiment could usher in a negative outlook. If SUI loses momentum and falls below the support level at $4.79, it might decline further to $4.05, undermining the bullish narrative and dampening traders' optimism.